The primary function of the International Monetary Fund is
A) to provide loans only to private firms in developing countries.
B) to make direct, irrevocable transfers of funds from wealthy nations to poor nations.
C) to lend solely on the basis of a nation's relative poverty.
D) to make loans aimed at promoting global stability and hence growth.
D
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From which of the following is it least difficult to exclude free riders?
A) A library book B) Landscaping on the edges of urban expressways C) Police protection D) Fireworks displays
A technological advance may come in either the form of a product or a process innovation
a. True b. False Indicate whether the statement is true or false
A nation has a comparative advantage over a trading partner in the production of good A if it
A. produces good A at a lower opportunity cost per unit than its trading partner. B. can produce good A with the same resources as its trading partner but in less time. C. can match its trading partner's output of good A and have resources left over. D. has an absolute advantage over its trading partner.
Refer to the accompanying figure. What is the equilibrium price of bananas in this market?
A. $1/pound B. $4/pound C. $5/pound D. $0/pound